Pursuant to the Regulation approved by Decree of the President of the Republic of Azerbaijan No. 1113 dated November 16 2016, one of the privileges offered to persons entitled to affordable housing is a preferential mortgage loan provided at the expense of the Azerbaijan Mortgage and Credit Guarantee Fund.
The opportunity to benefit from affordable housing for citizens who got a personal e-cabinet by registering in the "Affordable Housing" system is provided by credit institutions that are included in the list of authorized banks of the Mortgage and Credit Guarantee Fund and signing a cooperation agreement with "MIDA" LLC under the State Housing Development Agency of the Republic of Azerbaijan.
The State Housing Development Agency (SHDA) has been continuing to extend the circle of banks that has been cooperating with in order to ensure the convenience of citizens. Another financial institution to have signed a cooperation agreement with MIDA LTD was Pasha Bank OJSC. Established in 2007, Pasha Bank is a leading corporate bank of Azerbaijan. 6 business-centres, 3 branches and 1 exchange division of Pasha Bank have been operating in the capital and districts of the count
It should be mentioned that, the number of banks that have signed a cooperation agreement with “MIDA” Ltd on granting a mortgage credit on preferential terms to citizens at the expense of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan is 6. Earlier, similar agreement had been signed with “Kapital Bank” OJSC , “Azer-Turk Bank” OJSC, Bank VTB (Azerbaijan), and “International Bank of Azerbaijan” OJSC and "TuranBank" OJSC.
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